Don't expect a 1:1 repetition of previous fractal but I do expect a mass exodus of frustrated retail traders leaving the space with BTC going into cycle low then reduced volatility + accumulation until the new cycle starts.
Bitfinex Margin Longs have been dormant today so they aren't putting up much of a fight vs. the +5.5k shorts that opened today. Expecting a major fight in the highlighted area that will define crypto's future for the next few months.
BTC is currently retesting breakout. 1hr bear divergence on the RSI is playing nicely. 4hrTD is a red 1, expect 1-3 corrective candles then possibly more up. Hope you took profits on the TD9.
Watch out for price action around the box.
Price needs to get back into the daily cloud to continue bullish momentum. Rejection of the cloud can immediately turn sentiment bearish making this a relief rally.
There's bullish divergence on the RSI/MACD/MFI and BTC is extremely oversold so I wouldn't recommend shorting here. Higher probability of upside. Price can go either way; watch the next daily.
I've highlighted the Wyckoffian event cycles. TRX is currently trying to find support and will likely enter a consolidation phase before an impulse or corrective leg. I would recommend staying away from this token until market gives a clear indication on the direction it wants to take. You can use TD Sequential and momentum indicators on the...
In order for BTC to have a significant bull rally, one or more of these conditions have to be met:
a) positive FA catalyst
b) long capitulation, short increase (Finex alone has 5k longs between AC; shorts have been oscillating between 10-12k)
c) low IQ plebs who have been fomoing into shitcoins get baptized in blood
On the TA-side:
a) Price needs to break above...
We're looking at a possible triple bottom vs. head and shoulders patterns emerging from the recent price action of BTC. A retracement of 78.6% from the recent high/low (15k) would signal that bulls are in control and coincides with confirmation of triple bottom breakout. Until these levels are taken out, I'll continue to scalp and am neutral.
This is a coin that is currently in accumulation phase (DMI ranging between 15-25 with no strong momentum) with a healthy volume profile between 2 USD and 2.45 USD (resistance). It has a bullish bias in the form of higher lows (partly due to Bitcoin's surge above 8k). Be wary of using chart patterns as it can give false breakout signals; DMI comes in handy to...
The price action is locked in two patterns at the moment. The larger pattern (global) being a symmetrical triangle with lower highs and higher lows in an ABCDE wave-formation and the smaller pattern being an ascending triangle trying to push beyond the resistance at 4383. Neither side is able to push the...